False Value Hordware began 2021 with a credit balance of $32,100 in the refund liability account Sales and cash collections from customers during the year were $570,000 and $530,000, respectively. False Volue estimates that 5% of all sales will be returned, During 2021, customers returned merchandise for credit of $24,000 to their accounts. What is the bolonce in the refund liability account at the end of 20217 51 Multiple Choice $36,600. $52,500 $8.100 0 $28,500